You might get grasp. The economic order today has no resemblance to what you stating. You are confused, and doesn’t understand today’s economy and still stuck somewhere in the 19th center. It is not coming back, ever. So, bitch, moan and blame all you want.
Horse and buggy were not better than cars and air planes. We did go to the Moon and land there. We do have unmanned vehicle on Mars analyzing various things and sending back data. Yes, we can actually do all that.
The first question in that YT was " can we trust democrats with the economy"
When it should of been can we trust democrats OR republicans with the economy. Their is NOTHING the right can complain about, that the right hasn't also done. This points to a much bigger problem, the problem is BOTH the democrats and the republicans.
Laffer was also the same guy who drew an economic theory on a napkin, and showed it to Reagan that said tax revenues and tax rates operate on a bell curve.
The problem is that well yes, it's true that at 100% taxation you'd get 0 dollars and at 0% taxation you'd get 0 dollars, Laffer completely fucked up the curve.
So big picture, Buggy. Cutting capital gains stimulates SUPPLY. Now, next if we get an increase in revenue when we cut capital gains taxes, the first thing we have to ask is WHY. In other words, is the tax rate the causal agent here. Or are other things affecting capital gains earnings, which would then affect how much is paid.
You'll notice that we got a massive increase in capital gains revenues when that taxes were at a 20% rate in the year 2000. But what else was happening in 2000? We had reached the peak of the dot com bubble.
Take a look at 2007. Another massive increase in capital gains revenues. And what else was happening in 2007? It was the peak of the housing bubble.
Notice that from '54 to '67 the cap gains tax rate remains the same, and yet revenues from the tax quintupled. GDP growth for this period average 4.4%, BTW.
Notice that in the late 70's we saw the biggest increase in capital gains taxes in US history to nearly 40%. Notice that in 2 years of this new rate, revenues DOUBLED. Notice that in the early 80's the rate was cut back down to 20%. Revenues continued to increase, but increased at a slower rate.
Why are they increasing at a slower rate? Because in the early 80's we had double digit unemployment rates for 10 straight months.
What all this should tell you is that it doesn't matter what the tax rate is, so long as it's not way too low or way too high. You maximize revenue by maximizing economic growth. And we've tried mazimizing economic growth by giving rich people a ton of tax cuts. It hasn't worked.
So let's raise taxes on the rich and see what happens. Who knows, we might even get to full employment one day.
you point out steady rate between 54-67 and the revenue generated. then look at reveneue generated from 67-78 when the rate was INCREASED. What happened to revenue? If fell from nearly 4% of GDP to 2% of GDP. Nice job raising those rates.
revenue in 79-80-81 was FLAT until the rate was dropped to 20%..then revenue exploded.
do yourself and our country a favor and download that chart to excel, highlight to periods of lower rates and compared revenue growth and revenue %of GDP and you will see lower rates positively correlate to higher revenue both in absolute terma and % of GDP.
I think I made the case quite well that the rate is NOT the primary casual agent here in how much revenue is collected. That's all I was trying to say.
What happened to the general economy from '67 to '78? Can we say, not one but two oil embargos?
What was going on in the late 70's and early 80's? We had soaring stagflation. The market finally worked through that cycle, and the economy improved. Revenue would have exploded regardless of what the rate was.
You might get grasp. The economic order today has no resemblance to what you stating. You are confused, and doesn’t understand today’s economy and still stuck somewhere in the 19th center. It is not coming back, ever. So, bitch, moan and blame all you want.
Horse and buggy were not better than cars and air planes. We did go to the Moon and land there. We do have unmanned vehicle on Mars analyzing various things and sending back data. Yes, we can actually do all that.
Unfortunately it looks like your attempt to purchase VIP membership has failed due to your card being declined. Good news is that we have several other payment options that you could try.
VIP MEMBER
, you are now a VIP member!
We thank you for your purchase!
VIP MEMBER
, Thank you for becoming VIP member!
Membership should be activated shortly. You'll receive notification!
